Oklahoma’s drought is driving farmers and ranchers to renegotiate loans with community banks, which are struggling to help their agricultural customers stave off financial problems.
Even at banks with smaller agriculture lending portfolios, the drought’s effects are obvious. Dave Roberts, president of the Community Bank of Bristow, said most of his ag borrowers could almost be considered hobbyists because ranching and farming are supplemental to other jobs. Customers struggling with hay prices sold off their livestock instead of incurring problems with bank finances, he said.
Read more at: journalrecord.com
